Guideline Value for SRI RAMAPURAM 2ND STREET

Sri Ramapuram 2nd Street guideline value

The current guideline value of Sri Ramapuram 2nd Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Sri Ramapuram 2nd Street has changed

The guideline value for Sri Ramapuram 2nd Street has seen several revisions over the years. The earliest recorded figure is from 2002, which was Rs 754 per sq.ft. This increased to Rs 828 per sq.ft in 2003, marking a 10% rise. The value then rose significantly to Rs 1,200 per sq.ft in 2007, a change of 45%. Following this, the guideline value surged to Rs 4,600 per sq.ft in 2012, reflecting a substantial 283% increase. However, from 2012 to 2017, the value decreased to Rs 3,082 per sq.ft, a decline of 33%. The guideline value then increased again to Rs 4,600 per sq.ft in 2023, showing a 49% rise. The most recent revision in 2024 set the value at Rs 5,000 per sq.ft, which is a 9% increase from the previous year.

Throughout these revisions, there have been no figures recorded for the years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 563%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value in this area is Rs 5,800 per sq.ft, placing Sri Ramapuram 2nd Street's 2024 figure below that median.

• Sri Ramapuram 2nd Lane: Rs 5,000 per sq.ft (2024)
• Sri Ramapuram 1st Street: Rs 5,000 per sq.ft (2024)
• Sri Ramapuram 1st Lane: Rs 5,000 per sq.ft (2024)
• Station View Road: Rs 8,800 per sq.ft (2024)
• Subbarao Nagar Main Road: Rs 4,400 per sq.ft (2024)
• Subbarayan Nagar 1st Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ramapuram 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, while the registration fee at 2% would be Rs 1,00,000, bringing the total cost to Rs 4,50,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Ramapuram 2nd Street?

The Sub Registrar Office that covers Sri Ramapuram 2nd Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for additional assistance.

How the guideline value is used when you buy or sell in Puliyur

The guideline value plays a crucial role during the registration of property transactions in Puliyur. It is used to determine the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the appropriate fees are collected during the registration process.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should consider the guideline value to understand the financial implications of their property dealings, while sellers should ensure their sale prices align with the stipulated guideline values.

Frequently asked questions

What is the current guideline value of Sri Ramapuram 2nd Street?

The current guideline value of Sri Ramapuram 2nd Street is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed multiple times, starting from Rs 754 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 563% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000 and the registration fee would be Rs 1,00,000, totaling Rs 4,50,000.

Which office handles registrations for Sri Ramapuram 2nd Street?

The Kodambakkam Sub Registrar Office handles registrations for Sri Ramapuram 2nd Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the guideline value determined for property transactions?

The guideline value is determined by the Registration Department and is used to calculate the stamp duty and registration fees during property transactions. It is based on the current market conditions and historical data.